USD/JPY falls in week's first session

US dollar fell against the Japanese yen during the Asian session, for the second session of its highest since March 15th, following Japanese data, and ahead of the release of developments and economic data expected on Monday by the US economy.

 At 06:04 GMT, USD/JPY dropped 0.25% to trade at 111.45, compared to the opening at 111.71, after reaching a low of 111.35 and a high of 111.77.

The Japanese economy released its current account reading, which showed the surplus widened to 2.67 trillion yen from 0.60 trillion yen in January, beating expectations of a widening to 2.63 trillion yen. in addition to the seasonally revised reading for the same index, which showed the surplus widened to 1.96 trillion Yen against 1.83 trillion yen in January, also outperforming estimates of 1.92 trillion yen.

This came before we the release of the Consumer Confidence reading, which showed a decline to 40.5, compared to the previous reading for February and also the current month estimates at 41.5, leading to the Economy Watchers Sentiment reading, which showed a widening contraction to 44.8 versus 47.5 in Last February, contrary to expectations of the deflation shrink to 47.6.

The Japanese government recently announced a 10-day holiday from Saturday, April 27th to May 6th, for Japan's celebrations of the Japanese Emperor enthronement to power in early May, it's worth mentioning that this six-day vacation will be the longest in Japan's history.

On the other hand, Investors are currently looking for the US economy to release its factory orders index reading, which may show a 0.5% drop from a rise by 0.1% last January, three days after US labor market data showed mixed results on Friday. to the reveal of the Federal Committee March 19-20 meeting minutes on Wednesday.